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back and work on a deal. any deal may be a short-term fix. president obama will be leaving forwarmth of yhawaii washington. there is no specific deal on the table. democrats blame republicans for not agreeing to end tax cuts for the wealthiest americans. >> we're not going to let the rich pay one dime more. there is something awfully wrong with that picture. the american public is seeing that. >> republicans will not agree. they see there may be room for compromise. >> i know i am not in the majority and the red states annett -- in the senate. we have to sit down and hammer something out. >> if no deal is reached, americans will see their income taxes go up. 2 million peoplwill lose their jobless benefits. $110 billion in spending cuts will hit federal agencies. analysts predict fewer companies will hire. >> that level of activity will translate into consumption, lack of business investment, supporting as moving toward an economic contraction. with only the senate returning thursday, president obama will likely turn to his allies. -- to his allies, harry reid, to craft a deal. >> a n
around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
%. >> what about this? every time bainner and obama gets close to a deal, obama moves the goalpost back. >> because he's playing hardball. he's going, republicans, i don't care about that, i get that for free. he's kind of the guy that came to play and staunch for his side. >> the american people, when you look at the policy, they think it's president obama who is willing to compromise. >> because he's able to fit it in. because he hasn't conceded anything. >> and who are the obstructionists? who is afraid to move? it's my ideology, i can't negotiate. and even if we go off the cliff we endanger the whole economy. >> again, the idea of add hearing to a principle sadly in this world is seen as extremist, which is trying to limit government and cutting taxes. what obama has been able to do is shift the argument from cutting and spending to now spending and borrowing. cutting is even part of it. >> we have to leave it there. coming up, it's the day after christmas. you know what that means? all the bad kids going bad. [laughter] >> let's tell you what the finalist got from santa. and this w
sort of agreement. a potential headache. not on the horizon for president obama because he has a deal with, you know what i am going to say, those two words, he is meeting with congressional leaders at 2:00 p.m. let me bring in senator kay bailey hutchinson. given how both sides of the aisle are acting, senator, are you proud of your fellow lawmakers and how they are handling the nation's business as you get ready to exit? >> well, the best part of what you just said is my exit. [ laughter ] >> it is pretty depressing, honestly, to watch all the posturing. however, you know, i continue to believe that everybody understands that the fiscal cliff would be too huge a burden on american families. therefore, i hope so much that when they meet this afternoon, even though it is a photo off and probably now not progress to be made that minute that they will make in agreement to come up with something that they can at least try to us of the double republicans and democrats can vote for. that is the only way we will be able to pass anything or either house. dagen: what did your fellow republica
obama returns to d.c. to hammer out a deal with the senate, but there may be another problem, a more threatening problem to deal with before the new year, and he's a mean one, no, not roland martin, the grinch. >> that's will, else' the grinch. >> that might be, from the new musical. >> look at him. >> will, go outside and get your costume on. >> it is thursday, december 27th, "starting point" begins right now. all right, row manned martin joins us, the host of "washington watch." "washington watch with roland martin" a little hot this morning. ron brownstein is the editorial director at "national journal" will cain in addition to playing the grinch as a conservative holding up the fiscal cliff deal is also an analyst for the blaze. >> he's a ball of fire this morning. >> our "starting point" before we get to all of that is torture for holiday travelers as a powerful winter storm smothers the northeast. pennsylvania, new york, massachusetts, new hampshire, vermont and maine are under winter storm warnings. by tomorrow new englanders could be buried under 18 inches of snow or more and
. that is the strategy right now. president obama will be working with what ma jority leader reid trying to get something through. the president wanted a big deal given the time constraints and only six days left, he conceded to a big deal is probably not possible. the goal now is just to get a gap measure to prevent the steep tax hikes from kicking into effect and the deep spending cuts. right now that is the large goal. i can tell you that competence in lawmakers is dwindling according to the latest poll. 50% of americans believe that lawmakers will be able to prevent going-over the fiscal cliff. that is a drop from seven points from december 16th. consumer confidence in the lawmaker'sability to get something done. if we go over the cliff, it could have ramifications including leading the country back into a recession. >> can you tell me or do we know whether president obama spent any time on the phone with mitch mcconnell or john boehner or the republican leaders? that's a good question and has not happened during this holiday vacation. talks between the main players here are largely stalled. there ha
republicans said it is up to their leaders to reach a deal. danielle leigh has more. >> as president obama leaves hawaii for washington, tension on capitol hill is on high. >> i don't see how you could handle a large plant involving tax reform in a matter of days. >> serious doubt is setting in. even starbucks is getting involved. john boehner said he is sitting this round out. >> i think that john boehner is being controlled unfortunately by the right wing pickwick that leaves it up to harry reid and the rest of the senate to find a solution. the plan would avoid tax increases and would eliminate some big spending cuts and restore unemployment benefits. >> you are likely to see a two- step process. >> without a deal, bush era tax cuts will expire on january 1. congress set up the deadline hoping it would force a compromise. so far that has a compromise in. also flyback will be brian schatz. he will be replacing daniel inouye and will likely be sworn in later today. danielle leigh, wbal-tv 11 news. >> with the new year comes new state laws. >> kim dacey has more on what to expect. >> on tu
. >> president obama is in hawaii but could possibly cut his vacation short to hammer out a deal. >> thousands of nurses will walk off the job today at nine bay area hospitals. nurses with sutter health's alta bates summit medical center are asking for negotiated labor contracts care protections. such as staffing levels, health benefits, and sick days. strikers say hospital officials want to reduce the number of paid sick days for nurses and technicians, while eliminating health care coverage for those who work fewer than 30 hours a week. >> analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black friday weekend that started on thanksgiving was strong. sales rose 2-point-7 percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th. and last week they forecasted holiday spending to decrease another 2-point- 5 percent. previous expectations were for a 3-point-3 percent increase in spending. >> watching wall street, not much to cheer about, with little about the slide that we saw in stocks. down nearly 100 poi
to the quickly approaching fiscal cliff. tonight president obama and lawmakers are heading back to washington. but do they have enough time left to strike a deal in congressmen tray joins us. hi, tray, a pleasure to see you tonight. >> you too. merry christmas. >> merry christmas. unfortunately we still have the fiscal cliff looming over our head. a lot going on. talk about whether or not we can't get some kind of bipartisan approach. there is some kind of discussion that there might be a deal coming up. tell us what you know. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't be a solution. it will be a pan sea or some magical elixor that makes us all feel better. but shortly after we will get a letter from geithner asking us to raise the debt ceiling for the 80th time in our country's history. there will be a deal to, quote, avert the fiscal cliff. your viewers should demand more than a deal, they should demand a solution. >> do yo
in for melissa francis. here's what is money tonight. t the last minute panic begin of the president obama is set to fly back to washington in the next few urs to tr to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas
to resolve the looming fiscal cliff crisis. president obama is ending his out vacation in hawaii today to make a late bid to reach a deal before the year and. the white house that he should be back in washington tomorrow when house and senate members are expected to reconvene. new this morning a car bomb had outside the u.s. base in eastern afghanistan has killed three people and injured six civilians. afghanistan police say the blast killed a security guard and two truck drivers delivering supplies. the tal bang claims responsibility for the attack which happened after a minibus stop at a deep for a security check. the international security assistance for says the base has been secured. if sampras as the woman will be arraigned today on charges of vehicular manslaughter that killed one pedestrian and injured two others in the twin peaks area. the 56 year-old died last week after a car hit her at the twin peaks lookout point. police say the driver was intoxicated. the victim's son told us he doesn't want another family or to suffer through this bad as they feel all because someone dra
from going over the so-called fiscal cliff. they say if president obama and congress don't make a deal we will almost certainly see a recession. do you buy that, steven? >> the congressional budget office is a nonpartisan group that does this and says we will in fact have an immediate rescission. they say that we come out of a short, sharp recession stronger than we would be if we didn't go into that recession in the first place. we stop borrowing money from the future to prop us up now. we have the immediate problems but in the long term we are in gets shape. that's what they are grappling this. how do they best structure this to do the least amount of damage now but get us to the good economy in the future. >> reporter: if you look up a research paper from the president's own economist you'll find in the long run we are healthier, short run, yeah, it's painful. is that what motivates some of the republicans that, you know, what are called chuckle heads, but maybe in the end they are wisdom heads. >> that is certainly part of the motivation there. the other part of the motivation, and
to strike a deal before the end of the year deadline. president obama is on his way to washington this morning while senators are coming back to capitol hill. chip reid is at the capitol. good morning. >> reporter: good morning. the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader h
as we reach the edge and you hear a lot of complaints about the tax side of obama's offer. what he's asking for in terms of tax increases is not that radical, it's way less than if we don't reach a deal. contrary to what you may have heard, republicans want to raise taxes too. shocker, right? >> the superficial take on this, the argument between democrats and republicans is between democrats who love taxes, just want to tax everything. and republicans who totally grover norquist taxes, they hate them, that is not true. to a degree that kind of disturbs me, actually, the two parties mostly agree on keeping the bush tax cuts. up to $250,000 in income, which is a lot of income. republicans and democrats want to keep all the bush tax cuts. that's way more than 80% of all the bush tax cuts. they agree on all of that, no argument. where they disagree is democrats want to raise taxes on any income over 250,000. and they'll accept at this point 400,000. and republicans, though, this is what people don't always know, republicans want to raise taxes too, they want to raise them on poor peopl
. chuck wants us to do a deal like obama care where you bring in both sides and you think about all the -- you know, all the ideas from the republicans, all the ideas -- and then you adopt a bipartisan plan. >> did you read "the wall street journal" over the weekends? >> i did. >> boehner says i've given you $800 billion. >> what did it remind you of? >> that's some caddie shack. where spalding walks up to the shack and said i want a cheese birg, milkshake and fries. and his grandfather says, you'll get nothing and you will like it. you know what it reminds me of? elections have consequences. i won. it's not a nice tack to the center where i'm going to govern for all of you. are you coming back? >> i'm going to. >> the jacket is coming off, though, right? >> christmas eve and i'm celebrating. as you know, we had the tree going this weekend with the lights on. >> that's so nice. there's one other thing i sought on that thing over the weekend that you brought us that i was going do -- oh,no. did you see mitt romney did not want to run? >> i saw that. that was in the boston globe. that
. we will see when president obama gets back tomorrow. dennis: small, thinking a smaller deal rather than something sweeping. >> there was a sense the week or two ago that you have a big deal or we go off of the cliff but dynamics change next week and the reality is what is possible here is a small deal probably something that deals with the tax breaks or tax levels for most americans under $250,000 or maybe half a million dollars being extended, great uncertainty about everything else including tax rate for others in spending cuts and decisions kicked into next year seem to be possible and if that is possible the kind of deal i just described is probably only possible through the house with an equal number of democratic and republican votes. that is the most likely scenario right now. dennis: would this be a positive scenario? a small agreement with bipartisan support. is that a victory or is the humiliating and a defeat for both parties? >> good question. the answer is as opposed to what? a victory as opposed to going over the cliff. probably a good thing as you suggest to get some
, tip o'neill, the democrat made a deal for the huge change in our tax structure. there seems no possibility of a deal like that being made now. >> well, the republicans clearly feel that they've been disadvantaged by president obama and they actually, i don't think, trust him or the democrats anymore because of the experience they went through with the affordable care act. obama care, they've got nothing out of it so they feel they will be hung out to dry if they do a deal. >> you know, there are so many pots and plans clattering around the chamber and what bothers me he is the lopsidedness of the debate. how about the g.o.p. for decades never said we are the ones delivering the middle class tax cuts. these are middle class tax rates that were enacted undergeorge w. bush. we own these for the middle class, not the democrats. why isn't the g.o.p. stepping up for that. >> i guess because they have no historical memory, a democrat hasn't done this since jfk. back in the early 1960's. and he got a huge amount of protest. >> clinton lowered the capital gains tax and because of tha
the debt that was left for president obama to deal with. so for republicans to throw their hands up in the air to say they have no claim to any portion of this debt is completely ridiculous. host: ok. sure. caller: i am unemployed. i have been unemployed for the last several months. i am a financial controller by trade. it is extremely difficult to find employment. i would truly appreciate for something to be settled today to it least give me my additional benefits i was originally granted but now is continued until the 29. host: thank you for joining us unsell -- thank you for joining us from california. the house republican whip sent out a memo earlier this afternoon saying that we do expect to have a series of votes later this afternoon. "today's schedule remains very fluid. members are advised to remain close to the capitol. please stay as flexible as possible as we move through the day. i will do my best to keep you updated." that is from the house republican whip. the house stands in recess at the moment. within the last half hour, the president weighing in on this. he spoke t
. >>> now, to the fiscal cliff. still looming large as president obama returns to the white house this morning. the president cut short his christmas vacation in hawaii to get back to washington. congress will be in session today, amidst fading hope that a deal could be reached by the new year. no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volu
realized for starting that fight. >>> happening now president obama heading back to washington from hawaii to try to reach a deal about the so-called fiscal cliff he boarded air force one overnight and will be aliveing at andrews in maryland 8:45 our time this morning he cut short his vacation, democrats and republicans have four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> at least 200 teachers will get concealed weapons training in utah today, overflow crowds are expected when gun rights advocates waive usual fee for teachers. the training tolls the shooting tragedy in newtown, connecticut. gun groups believe teachers can act more quickly than law enforcement in those critical first minutes to protect children. >>> gun buy-back event in los angeles is being called a huge success, you can see why. people in their cars lined up for miles yesterday to turn in their firearms. event is held once a year and takes place in the spring, the mayor moved it up to take advantage of the outrage over the connecticut school massacre, the city gave away up
on the phone in a few minutes. >>> unfortunately, we deal with incompetent. this afternoon president obama whim wil set down with congressional leaders at the white house for a last ditch effort to avoid going over the fiscal cliff. the hope is both sides can agree to a compromise to prevent the economy from sliding back into recession. judging from the rhetoric on capitol hill, there's a long way to go. here's the day on the hill. >> if we go over the cliff we'll be left with the knowledge that could have been prevented with a single vote in the republican-controlled house of representatives. the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker not allowing the vast majority of the house representatives to get what they want. >> we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the e
gotten it wrong every time over 50 years. and so whether you're deal -- what you're doing with obama is not just the expiration of the bush tax cuts, but obama tax goes into effect as well. the cap gains rate will go up 58% and this is going to lose revenue rather than gain revenue just as it has in the past. similarly, the tax increase on dividends. if the bush tax cut expires, along with the obamacare tax increase, the tax rate on dividends is going to increase -- actually triple. when bush cut the tax rate on dividends, dividends pay soared and so did the taxes napad on them as a result. if you reverse that tax cut and put the obamacare tax on top, dividends are going to collapse and so are the revenues that government will collect from the dividends. you'll have a similar result as you had in 1990 where they increased rather than declined. >> clayton: do we not learn from our history? this seems like it's just repeating all over again. politicians aren't aware of their history here and what we could go through again. we know what 1991 and 1992 looked like with that recession. it
's not forget the reason president obama is returning from hawaii early. the fiscal cliff. consumers are nervous that lawmakers will be unable to reach a deal. >> samsung is seeking a ban on the import and sale of some erickson products and the u.s., escalating a dispute over patent fees. the complaints at the trade commission followed a dispute over mobile technology patents that erickson bought before a u.s. district court after the two sides failed to agree on licensing terms. in november, erickson said the samsung is seeking to drastically reduce the fee it pays to license patents. >> facebook has poked its way into ranks of mobile apps yet again. the social media company put smaller developers on notice last week with a lot of this new poke app for iphone. the app mimics snaped chance, a popular ab with teens that allow users to send images that self destruct moments after the recipient use it. poke immediately rose to #one on the iphone. thanks to the aggressive mobil development and cutthroats competitiveness, facebook owned three of the top-10 iphone apps of 2012. the other two are the f
before congressional committees on the attack in libya. >> j president obama will meet with leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehne
the reason for the obamas returning from a wire early this is a cliff. >> consumes enervate the lawmakers will be unable to reach a deal before the the digital age is making aging a whole lot easier. >> from talking pill dispenser to tracking devices tucked inside tennis shoes to digital medical scanners that can transmit bottle size to the doctors, today's gadget held senior stay in their homes and can give relief to loved ones and care givers. >> many products to be found in self-help medical goods shops, but they are also offered on line. >> advocates say it is best to consult with health care providers for suggestions on what to use. >> facebook has poked its way into the top prize of mobile apps yet again. >> the social media company put smaller developers on notice last week with the launch of its new polka at 4 iphone. >> the app mimics snapshots--snap chat, a popular app with teens that allow users to send images that self-destruct moments after the recipient use it. >> polka immediately rose to #one on iphone. >> thanks to the aggressive mobil development in cutthroat competitive
. the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the ma
obama also cutting as a hawaiian vacation short and coming back to washington. the house and senate are also returning to work out a deal for the fiscal cliff. back to the bay area we are following this story in walnut creek, a person is dead after an officer involved shooting. jackie sissel is live on the scene. >> i am on the 1400 block of creekside drive. the contra costa sheriff's department also remain out here for a shooting that happened a couple of hours ago. here's video from a earlier this morning. we're being told that the 911 called 21453 creekside drive around three this morning. officers got there and apparently shots were fired. one of the suspects were shot and killed and no injuries and cure it occurred to be walnut creek officers. we spoke of the spokesperson for the walnut creek police department and he spoke of the incident. >> we received a call this morning at 315 and there was screaming in the background. officers arrived shortly thereafter. the transmission at three not scene of shots fired. there was an officer involved shooting and all the officers are ok.
on boehner and obama getting into a room together and making a deal, you'd have lost a lot of money over the last couple of years. on the other hand, when reid and mcdonnell, the two senate leaders get into a room together, they somehow seem to be able to find an accommodation. i think there's much more for compromise with the senate leaders. let them make a deal, i'm sure reid is talking to the president and conversely, mcconnell is talking to boehner what they can go for, but probably to have the actual deal making going on between the two senate leaders. >> dave: chris, i want to say farewell, last time i'll chat with you on air and always a pleasure having a conversation with you on sunday mornings, we appreciate it. >> i know that, david. and i'm sorry to see you leave. better you know, i hope better things for you and going to miss our back and forth about the michigan wolverines. (laughter) >> you or dave always have to get a dig in. >> dave: enjoyed it, chris and thank you, we'll watch the show today. it's a good one. >> clayton: check your local listings, chris, thanks so much.
with an agreement to avoid going over the fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you
it pulls through. >> brand new video of president obama visiting fires one and leaving hawaii with five days until we fall off that fiscal cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of th
pushed in a deal on obamacare. they just give themselves a $900 a year raise. entitlements that obama thinks -- he is spending $5 million of taxpayer money for a vacation. everybody is going to have to pay more taxes. why? what are the entitlements going to the politicians? they get a six-figure salary and everything is paid for. you try to get into the white house or one of the senator's place. they are heavily guarded with rifles. it is the democrats back door. you have to know what is in the bill. host: thank you for the call. this is from "the washington times." "leaders find agreement on farm bill." host: and from nbc news, moron hillary clinton, -- more on hillary clinton who remains hospitalized this morning after it blood clot had formed. the clot stems from a concussion she sustained several weeks ago. she is in new york president obama -- new york presbyterian hospital. her doctors will continue to assess her condition and will determine if any further action is required. she has not been seen in public in three weeks. was supposed to come back to office this week. next is r
house. president barack obama, speaker of the house john boehner, house minority leader nancy pelosi, harry reid and mitch mcconnell. can they make a deal or can they do their jobs or is this just more political drama? >> we want an agreement. >> the count down is midnight. the start of a new year. >> we are going over the cliff because frankly i believe it's what the president wants. >> the american people are waiting for the ball to drop, but it's not going to be a good drop. >> but we have no takers. >> every republican, every democrat ought to be here. >> the phone never raining. >> they should negotiate a plan. they shouldn't have the mine are in plan, they should have the biglan. >> here we are five days from the new year, and we might finally start talking. >> the republicans are sitting there with a nuclear weapon. they have the debt ceiling coming up. they can use that as part of this negotiation. >> what is going on here? >> the president called me and probably called others last night. my impression is he would like to see if we can move forward. >> you can't legislate wit
. >> and it has some great names. looking forward to it. on my list, as well. >>> president obama's christmas vacation will be over in a matter of hours. we'll have the latest inside information on whether he'll get a deal or more frustration when he arrives back here in the nation's capital. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] to learn more about the cold truth and save $1 visit alka-seltzer on facebook. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! bu
the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the impact on these individual stocks, as jane had pointed out in her piece, is to understand which programs might be protected, even with budget cuts that the industry is facing. the f-35, for instance, is one that might be protected. walk us through. which ones had the most protected streams of revenue? >> frankly, many of them do at the moment, because the pentagon has been very busy signing production contracts to get under the wire of the sequester. >> so, for instance, the general dynamics deal that was selling to the
.com/drive. >>> president obama is heading back from his holiday vacation in hawaii early in case there is a last-minute deal. the senate returns from christmas break tomorrow. house leaders say they're prepared to call members back if there is an agreement. joining us to talk about this is john avalon. he's a senior political columnist for "newsweek" and "the daily beast." we're here again. it's like groundhog day. we don't think there's going to be any kind of grand bargain at this point. what are the short-term measures? what's the best thing to hope for in the next six days? >> the best thing we can hope for is they get back to work again, suzanne. from all reports leadership isn't even talking to each other at this point. so it really is urgent. with six days left, the clock is ticking and the countdown is going on. this is not something abstract on the washington level. people need to appreciate if the country goes over the fiscal cliff, it will impact the bottom line as well. money out of their pocket in the form of tax hikes. >> we have stop gap measures. there are some things they can do
think a grand bargain is impossible at this point. but president obama coming back from vacation in hawaii. that's an indication that some kind of deal -- however small -- is definitely coming. i want to point out, and i know you've been negative on this mastercard data on retail sales, and everybody thinks it's going to be a mess for the holiday season. i want to point out that the stocks are not acting that way. that this is a disaster for the season. the s&p retail index hit an historic high on december 3rd. historic high. since then, it has only been down about 3%. these stocks are not acting like there's a disaster. i can give you several reasons why they're not down so far. number one, we are going to see eps growth in the fourth quarter from some of them because of the extra week that there is. number two, we've had much lower cotton costs this year. their overall costs are lower. that's helping their earnings. number three, inventory levels are much lower. and that's going to help their gross margins. number four, we had pretty good gdp numbers in q-3. number five, home p
's retiring, doesn't have a lot of the political pressures that others have. she said let's make a deal. her prediction, probably the right one, they're going to go home. suddenly once it passes, obama wim introduce his own package which will look like what he's proposing now, and they'll have nothing to do but accept it or else they'll get blamed for everything. >> can you recall a time in your life when you were aware of politics that encompasses, what, a couple of years, at least? a comparable level of incompetence in washington? >> the only thing i can think of is the last four years. i actually spent some of the time over the holidays for my sins reading bob woodward's book. and my overall reaction to all this is groundhog day. it's the same exact issues, some of the same players, same cautions of spending, entitlements, taxation, debt celling, what have you, nothing has changed. so what's so depressing to me is we've had four years or longer to wrestle with these issues. there's virtually been no signs on progress. here we are now with two more self-imposed ceilings. and increasingly,
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